About Leather Luggage and Goods
For a long time, leather in different ways has been a big export earner. The growth of leather manufacturing and the development of leather products, especially garments, has been phenomenal in recent years. Such expansion has been aided by advancements in fashion design, pattern formation, and fabrication processes, which have resulted from increased demand from foreign countries. Floor managers and shopfloor staff are required to learn different fabrication processes and keep up with industry advancements in order to manufacture high-quality leather products. With factors such as emergence of smart leather and growing fashion awareness among the millennial generation the market for leather luggage and goods is set to flourish.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that French & Italian Vendors will contribute the maximum growth to Global Leather Luggage and Goods market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Prada S.p.A (Italy), Kering SA (France), Tom Ford SA (United States), Chanel Limited (France), Yves Saint Laurent SAS (France), LVMH Moët Hennessy Louis Vuitton (France), Hermes International S.A. (France), Coach, Inc. (United States), Delsey S.A. (France) and Christian Dior SE (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are VIP Industries Limited (India), Samsonite International S.A. (Hong Kong), Montblanc (Germany), T. Anthony (United States), Perry Ellis International (United States) and Fabbrica Pelletterie Milano (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Leather Luggage and Goods market by Type (Travel Bags, Purses, Wallets & Belts Accessories, Footwear Accessories, Leather Bracelets and Gloves), Application (Male and Female) and Region.
On the basis of geography, the market of Leather Luggage and Goods has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Branded Piece will boost the Leather Luggage and Goods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Stores will boost the Leather Luggage and Goods market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of Plant Induced Vegan Leather and Increasing Adoption of Influencer Fashion
Market Growth Drivers:
Innovation in Leather Technology, Rising Disposable Income and Growing Fashion Awareness
Challenges:
Regulatory Clearance, Presence of Counterfeit Goods and Customs and Excise Formalities
Restraints:
Animal Cruelty Concerns and Expensive Range of Premium Bags
Opportunities:
Free Trade Agreements and Availability of Affordable Leather Goods
Market Leaders and their expansionary development strategies
On 7th January, 2021 - LVMH Moët Hennessy Louis Vuitton Completed its Acquisition of Tiffany & Co. (Leading Luxury Goods Manufacturer), This renowned US jeweler's Takeover Would Profoundly Change LVMH's Watches & Jewelry Division and Complement LVMH's 75 Distinguished Maisons., and On 6th June, 2018 - Curated Lifestyle Collection Company Acquires T. Anthony (Leading Leather Goods Manufacturer), this Acquisition will Add to Harrys of London and Richard James Subsidiaries with Soft Leather Accessories for Men, Women’s Handbags Product Expertise.
On 27th November, 2019 - High On Leather Announced Its New Premium Collection to Challenge Big Brands in Leather Bag Industry. This New Range of Premium Bags are Durable Luggage Bags Made from Cowhide Leather, Initially Available for Indian Markets. and On 15th March, 2021 – Hermes Announced the Launch of Innovative Mushroom Leather Bag, the Bags are New Version of Its Famous “Victoria” Bag which uses Vegan Leather Alternative Made with Mushrooms. This Travel Bag Will Mark Hermès' Debut into Vegan Leather Alternatives.
India, Harmonized System (HS) Code 4203 “Harmonized System (HS) Code” – The Code Describes Travel Goods (Trunks, Suit Cases, Luggage Bags, Sports Bags, etc.) Made of Leather are to be levied 15% Basic Duty, 18% IGST and 10& Social Welfare Surge Charge as Import Duty.
Key Target Audience
Leather Luggage and Goods Manufactures, New Entrants and Investors, Leather Luggage and Goods Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.